Silver Eagles update

April 7th, 2008

As noted on the Silver Eagles page on the cmigs website, the U.S. Mint is not now producing Silver Eagles. One of the consequences of the Mint not disclosing why it had stopped turning out its popular 1-oz silver coins was widespread speculation that the Mint was discontinuing its Silver Eagles program due to a shortage of silver.

Now, though, I have been told by a reliable source that the U.S. Mint will again be shipping Silver Eagles about the first week of May. If so, by the middle of May Silver Eagles should be available for delivery to investors.

Meanwhile, 2008-dated Silver Eagles are not available through normal channels. Further, because of the unavailability of 2008-dated Silver Eagles, buyers are eagerly snapping up backdated Silver Eagles, making all Silver Eagles virtually unavailable at this time. However, as often is the case, an entrepreneur has stepped into breach with a “solution.”

Hearing that CMIGS still had supplies of 100-oz silver bars, a dealer called and asked if we would also like to make available sealed boxes of backdated Silver Eagles to our clients. The dealer specializes in sealed boxes of backdated Silver Eagles. However, his prices are high.

He wants about $2.00 a coin more than what would be the going price for 2008-dated Silver Eagles if available. I told him that if any clients couldn’t live without buying Silver Eagles before the U.S. Mint renews production, I’d call him. My recommendation is investors who like Silver Eagles wait until 2008-dated coins are available.

Anyone who would like to be notified when Silver Eagles are again available need only email shannon@cmigs.com and ask to be put on the list. Or, you can call 800-528-1380 and ask to be put on the list.

CMI Gold & Silver Inc. buys, sells and trades all the popular forms of gold and silver. Our sell prices are among the lowest of all established dealers. Our buy prices are nearly always the highest. Specials pricing for trades. Call us. Friendliest service on the internet.